Hi BiggerPockets Members!
I have found a foreclosed 2 bed/3 bath. condo at a great deal, approximately 50% below market value, that I am considering purchasing. I have come to find each bedroom has considerable mold. Yet, aside from the mold there is no other (known) significant problems. I know the ARV will net a considerable profit, whether I choose to hold or flip the property. But I would like to get more detailed with my analysis, and know exactly how much it will cost me to fix the mold problem. I have never come across mold within all the bedrooms, usually only hearing about mold in bathrooms or rooms next to bathroom. I would sincerely appreciate if any investor experienced with this issue could lend some words of wisdom! How do I start investigating into the seriousness of the mold? How do I go about looking for a solution, and determining cost, to fix the problem?
Thank you for your time!
-Vince
